Tradeshift is a cloud-based procurement software that provides businesses a platform to conduct digital transactions related to supply chain management, purchase orders, invoices, and payments. The software aims to streamline the purchasing process by offering integrated solutions for handling documentation and communication with suppliers electronically. It utilizes AI technology and blockchain capabilities to enhance security and automate routine procurement tasks.
Founded in 2010 by Christian Lanng, Mikkel Hippe Brun, and Gert Sylvest, Tradeshift was created with the vision of revolutionizing business interactions with suppliers through a digital platform. As CEO, Christian Lanng envisioned simplifying procurement processes by integrating various functions into one centralized location. Tradeshift's innovative features include electronic handling of documents and supplier communications, AI-driven security enhancements, task automation within procurement operations, and blockchain for secure transactions.
Tradeshift competes in the cloud-based procurement software market against SAP Ariba, Coupa Software, Oracle Procurement Cloud, and Jaggaer. Despite this competition, Tradeshift differentiates itself through its emphasis on integrating supply chain management functionalities in one unified platform while enhancing transparency and communication throughout the procurement ecosystem. Its competitive edge lies in leveraging advanced technologies like AI for increased operational efficiency and blockchain for secure transactions. These distinct features position Tradeshift as an advanced solution that not only streamlines but also secures procurement activities across businesses of all sizes.
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